What to do if estate agents are not acting in best interests

[TennisWidow]

Hi, looking for some advice on options for us.

We are in a completed chain on our sale and have been since November last year - we are ready to exchange on our sale and onward purchase however the vendor has had to pull out of her planned purchase due to complex boundary issues that needed land registry. She has had an offer accepted on another property but that means starting afresh with the purchase.

With everyone else in the chain ready to go the estate agent is constantly asking us to break the chain and move out and go into rented until the vendor is ready to exchange on her newly found property.

We have asked how long this might take and we have been told either 4 weeks or 12 weeks, and that we should move to avoid everything collapsing beneath us.

Frankly it feels unfair that we’re being asked to move out and go and rent (expensive) for an unknown amount of time when the problem of not being able to exchange is the fault of the person we’re buying from.

We asked the EA to ring round the rest of the chain to understand if anyone is thinking of pulling out but we don’t think they actually did and instead keep asking us for dates to move

We don’t want to lose the house but equally we do t think it’s on us to move and waste money renting for what could be an unknown amount of time.

Any advice would be gratefully received.

Just say no. The EA is keen to get the sale complete so they can pocket their fee, which is why they are pushing you to move to rented.

However you need to do what is best for you. Even if the chain collapsed, what’s the worse that can happen? You’ll need to find a new buyer. That’s probably preferable to the hassle of moving twice, the expense of renting, and the risk your vendor could pull out leaving you stuck in rented with nowhere to buy.

Why can't you ask the person you are buying from to go into rented? They are the ones causing the delay...

Stand your ground and don’t go into rental if you don’t want to. Your venders are the ones that should go into rental, if anyone does. Your estate agent probably sees you as an easy pushover.

You’re right, that’s what I thought. She has a couple of kids (ones a newborn) so that makes it more tricky but that’s again not really our concern or something we should compensate for.

i understand that the EA and our vendors know each other personally as well as professional so they’re probably trying to lean on us to help their friend. Feels pretty shady.

They are trying to keep the chain intact. Like someone else said, your vendor should be the one to move into rental, but if you say she is a friend of the agents… They’ve come to the next one down the line, which is you. Tell them absolutely not, and to stop asking you. They can’t push you into this, don’t let them keep trying. Be as rude as you need to be to stop them from asking. Sometimes a polite ‘no’ is not enough.

Well friend or not the agent and their vendor are in the 'relationship' (business wise) their contact is with them and the agent works for them not you, if i have where you are in the chain right

Is the same agent representing you on your sale and your vendor on hers?

I think the EA is just pointing out the basic reality to you, if your side of the chain has been ready to go since November there’s every chance your buyer will not wait for your onward purchase to find a new purchase and start from scratch. Surely everyone has had to apply for new mortgage during this time too??

Thanks, the polite approach doesn’t really seem to have worked so far so will have a be a bit more firm….doesn’t come naturally to me!

We’ve been waiting since November as yes had to reapply for a mortgage. Our buyers have been waiting since Feb…so I guess maybe that’s why they are trying to push it as I assume that others are approaching that stage too.

It’s a simple decision process. Either you or your vendor go into rented to avoid the chain collapsing.

If your purchase means more to you than your sale, stand your ground.

If your sale is the most important thing, vacate your house.

The agent is not wrong to ask you to consider this. It’s nearly August, I’m surprised your chain has held up till now.

I wouldn't because the 12 week "promise" could turn into 16 or 32 weeks. Or forever. Circumstances change.

OTOH if you are not prepared to do something or at least make some contribution that resolves the deadlock, then you have to be prepared for the possibility the chain might collapse. No one here knows how likely this is.

You need to find out how patient everyone else in the chain is prepared to be. If there’s no urgency, you could dig your heels in and refuse to move, but if it looks as though the whole thing may collapse, you need to consider carefully, whether you’re prepared to start again.

Presumably, the agent contacting you is the one selling the vendor’s house, rather than your own EA. Whether he has a personal relationship or not, he should be working for his client, your vendor, to get the sale across the line.

Of course it’s inconvenient and expensive to move twice. It’s also inconvenient and expensive to have a chain collapse, lose money or searches etc and have to start again.

Only you can decide whether it’s worth itvtobyoubandvyour circumstances.

Is she a full cash buyer who has the right to wave extras?

I doubt it, if she sold to you and not willing to move out its unlikely she is a cash buyer.

If she is not a cash buyer theres very little chance it will be 4 week sale. Searches take far longer than that and are required for mortgaged houses. Our searches took close to 2 months all in. More likely to be 3-6 months if theres no major delay.

I would expect at least 6-8 weeks from when she gets the draft contract before you will all be able to exchange. And that depends how quickly the person she is buying off provides the sellers forms etc. to their solicitor before they even issue the draft. Is the house she is buying event the end of the chain? Has anyone asked her if she would go into rented? I expect a no as well. Tbh we wouldn't have.

If everyone has got to the point they are exchange they have already spent money on solicitors fees, searches etc. so would be less inclined to pull out than if earlier on (although not impossible I know!)

I would just send an email to the EA so you have it in writing saying that you have discussed this and it is not appropriate for you to move in rented and you will not be doing it and for them to please let the seller know. Leave it at that. If they bring it up again then say you have already said or if they are emailing it, just ignore it.

Your vendor is the one causing the delay so should be the one to move into rented. At a push I’d agree to move into rented if their circumstances don’t allow, but I’d also deduct every week of rent off the price I’d agreed to pay and make sure the solicitors got some sort of undertaking. Might focus their mind as to who is causing the issue. Why should you foot the bill for the rent when it’s them causing the issue?

No.

solicitors will be trying to get the chain moving and will put pressure on the top of the chain and then move down and someone will buckle